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Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2011
Commitments and Contingencies [Abstract]  
Actively related to asbestos claims
                               
     2011   2010(b)   2009

Pending claims(a) – January 1

       103,575         104,679         103,006  

New claims

       5,691         5,865         4,274  

Settlements

       (1,426 )       (991 )       (1081 )

Dismissals

       (2,354 )       (6,469 )       (4,728 )

Adjustment(c)

       –         491         3,208  

Pending claims(a) – December 31

       105,486         103,575         104,679  

 

(a) Excludes 34,869 claims related to maritime actions, almost all of which were filed in the United States District Court for the Northern District of Ohio, because the Company believed they would not be litigated. In August 2010, these cases were dismissed.

 

(b) In September 2010, ITT executed an amended cost-sharing agreement related to a business we disposed of a number of years ago. The cost sharing agreement provides that responsibility for costs associated with claims resolved gradually transitions away from ITT, such that ITT will have no responsibility for claims resolved beginning no later than July 1, 2022. The table above excludes claim activity associated with the amended cost-sharing agreement for claims that were not filed against ITT.

 

(c) Reflects an adjustment to increase the number of open claims as a result of transitioning claims data from our primary insurance carriers to a third party claims administrator.
Net asbestos charges
                                                                       
For the Year Ended   Continuing Operations   Discontinued Operations    
December 31, 2011   Liability   Asset   Net   Liability   Asset   Net   Total

Provision

     $ 85       $ 26       $ 59       $ 24       $ 21       $ 3       $ 62  

Remeasurement

       38         (3 )       41         (82 )       (73 )       (9 )       32  

Asbestos-related costs before tax

     $ 123       $ 23         100       $ (58 )     $ (52 )       (6 )       94  

Tax benefit

                           (37 )                           2         (35 )

Asbestos-related costs, net of tax

                         $ 63                           $ (4 )     $ 59  

 

                                                                       
For the Year Ended   Continuing Operations   Discontinued Operations    
December 31, 2010   Liability   Asset   Net   Liability   Asset   Net   Total

Provision

     $ 67       $ 12       $ 55       $ 50       $ 50       $ –       $ 55  

Remeasurement

       524         194         330         167         177         (10 )       320  

Asbestos-related costs before tax

     $ 591       $ 206         385       $ 217       $ 227         (10 )       375  

Tax benefit

                           (144 )                           4         (140 )

Asbestos-related costs, net of tax

                         $ 241                           $ (6 )     $ 235  

 

                                                                       
For the Year Ended   Continuing Operations   Discontinued Operations    
December 31, 2009   Liability   Asset   Net   Liability   Asset   Net   Total

Provision

     $ 56       $ 28       $ 28       $ 2       $ 6       $ (4 )     $ 24  

Remeasurement

       644         434         210         64         51         13         223  

Asbestos-related costs before tax

     $ 700       $ 462         238       $ 66       $ 57         9         247  

Tax benefit

                           (95 )                           (3 )       (98 )

Asbestos-related costs, net of tax

                         $ 143                           $ 6       $ 149  
Roll forward of asbestos liability and related assets
                                                             
    2011   2010
     Liability   Asset   Net   Liability   Asset   Net

Balance as of January 1

     $ 1,676       $ 1,035       $ 641       $ 933       $ 667       $ 266  

Changes in estimate during the period:

                                                            

Continuing operations

       123         23         100         591         206         385  

Discontinued operations

       (58 )       (52 )       (6 )       217         227         (10 )

Cash activity

       (73 )       (52 )       (21 )       (54 )       (54 )       –  

Other adjustments

       –         –         –         (11 )       (11 )       –  

Balance as of December 31

     $ 1,668       $ 954       $ 714       $ 1,676       $ 1,035       $ 641  
                                                             

Current portion

       139         133         6         117         105         12  

Noncurrent portion

       1,529         821         708         1,559         930         629  
Roll forward of accrued environmental liabilities
                     
     2011   2010

Environmental liability – January 1

     $ 100       $ 101  

Accruals added during the period

       –         –  

Change in estimates for pre-existing accruals

       13         10  

Payments

       (11 )       (11 )

Environmental liability – December 31

     $ 102       $ 100  
Range of environmental liability and number of active sites for these environmental matters
                     
     2011   2010

Low-end range

     $ 81       $ 82  

High end range

     $ 175       $ 180  

Number of active environmental investigation and remediation sites

       64         65